Bank of America details potential MBS buyback, legal costs

Feb 28 Bank of America Corp may incur
another $4 billion in losses on future repurchases of troubled
mortgage securities, as well as up to $3.1 billion in legal
losses beyond the amount it has reserved, the bank said in a
securities filing on Thursday.

The second-largest U.S. bank by assets also said its
litigation expenses, excluding lawyer costs, fell 25 percent
last year, to $4.2 billion from $5.6 billion in 2011.

Bank of America detailed the expenses and potential losses
in its annual filing with the U.S. Securities and Exchange
Commission.